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IBMC 2017

45 Teams
6 Schools
2 Countries

59 Teams
7 Schools
1 Country

1,383 Teams
143 Schools
10 Countries
$357,000 Awarded

2,418 Teams
209 Schools
19 Countries
$755,600 Awarded

3,832 Teams
276 Schools
15 Countries
$644,500 Awarded

5,113 Teams
482 Schools
29 Countries
$663,000 Awarded

5,953 Teams
495 Schools
27 Countries
$755,198 Awarded
IBMC Administrators
If you have any questions regarding the competition,
please contact one of the IBMC administrators.

Jeff Brown

Brennan Steiner
student director






2017 IBMC 1
elcome to the International Business Model Competition! You are joining for one of the greatest
years in the history of the competition. We are hosting the competition in a legendary location—
the Computer History Museum in the heart of Silicon Valley—and joined by some of the leaders
of the lean startup revolution, Ash Maurya, Dan Olsen, and David Bland. It is such an honor to have Ash,
Dan, and David join us. It is an equal honor to have the Exponential Center serving as our education pro-
gram partner, given that their mission “to inform, influence, and inspire the next generation of innovators,
entrepreneurs, and leaders changing the world” aligns so tightly with our mission. Thank you to these
partners and most importantly thank YOU for joining us.

The competition has grown from a handful of teams competing on a small stage where Steve Blank, Alex
Osterwalder, myself and the BYU team mentored them to over 5,000 teams from over 500 schools com-
peting around the world. It is truly an inspiration. As teams improve, we should also improve our ability to
clearly state our hypotheses about the business model (the customer need, solution, and other business
model elements), to test these using rapid low cost experiments, and to communicate the results of these
experiments). Let’s remember to reward the process, not just big promises.

Let’s also remember an even more foundational principle. Innovation is about solving problems in the
world around us. So whether the teams participating win or lose in the competition is less important than
our ultimate goal … to change the world for the better. Thank you for being a part of the competition and
please, no matter the outcome of the competition, go out and change the world.

Nathan Furr
Co-founder, International Business Model Competition

4 Schedule
6 Maps
8 Speakers
11 Prizes
12 Competing Teams
26 Judging
28 Success Stories
30 How to Win

2017 IBMC 3

Thursday Schedule
May 11, 2017

8:15-9:00 AM Transportation
Shuttles will be provided to transport attendees to the Computer History Museum.
Be in lobby at 8:15 to begin loading. Shuttles will leave at 8:30.

9:00-9:30 AM Check-In & Networking
Attendees will check in and have the opportunity to network with one another.

9:30-2:20 PM IBMC Startup Conference

9:30-10:20 AM Morning Keynote
Attendees will be oriented about the conference and have the opportunity to listen
to the conference’s morning keynote speaker, Marguerite Gong Hancock, the
Executive Director of the Computer History Museum’s Exponential Center.

10:30-11:20 AM Breakout Session 1
Attendees will choose between a number of breakout sessions.

11:30-12:20 PM Breakout Session 2
Attendees will choose between a number of breakout sessions.

12:30-1:30 PM Lunch
Attendees will eat lunch and have the opportunity to network with one another.

1:30-2:20 PM Breakout Session 3
Attendees will choose between a number of breakout sessions.

2:20-2:40 PM Break

2:40-3:10 PM Competition Welcome & Orientation
Attendees will be oriented on the competition and on the rest of the day and the next
day’s activities.

3:20-6:20 PM Quarterfinal Mentoring Sessions & Preparation
Teams will be assigned a space to work on their presentations. During the three hour
block, mentors will visit each team to provide valuable feedback on their presentation.

6:30-8:00 PM Dinner & Evening Keynote
Attendees will eat dinner and hear from our evening’s keynote speaker, Ash Maurya,
author of the Wall Street Journal bestselling book Running Lean and creator of the
Lean Canvas.

8:00-9:00 PM Post-Dinner Networking & Transportation
Guests are invited to network before the shuttles arrive to transport guests back to
the hotel. Shuttles will leave at 8:30.


Friday Schedule
May 12, 2017

8:15-9:00 AM Transportation
Shuttles will be provided to transport attendees to the Computer History Museum.
Be in lobby at 8:15 to begin loading. Shuttles will leave at 8:30.

8:30-9:00 AM Quarterfinal Round Judge Orientation
Quarterfinal round judges receive orientation.

9:15-11:45 AM Quarterfinal Round
Teams will be divided into 4 rooms and present for 10 minutes to a panel of judges
with up to 3 minutes of Q&A. Teams are encouraged to watch the presentations of
the other teams in their room.

12:00-1:00 PM Lunch & Quarterfinal Results
Attendees will eat lunch and the results of the quarterfinal round will be announced.

1:00-3:00 PM Semifinal Mentoring Sessions & Preparation
Mentors will be assigned to meet with the semifinalist teams to help them prepare for
the semifinal round.

3:00-4:30 PM Semifinal Round
Teams will be divided into 3 rooms and will present for 10 minutes to a panel of judg-
es with up to 5 minutes of Q&A. Teams are encouraged to watch the presentations of
the other teams in their room.

5:00-6:00 PM Dinner & Semifinal Results
Attendees will eat dinner and the results of the semifinal round will be announced.

6:30-8:00 PM Final Event & Awards Ceremony
The finalists will compete for the title of “Global Champion” and the winner will take
home the IBMC traveling trophy as well as the top cash prize. Teams will present for
10 minutes to our all-star judging panel. The Q&A for this round will be 10 minutes
depending on how many finalists are selected.

8:00-9:00 PM Post-Finals Networking & Transportation
Attendees will have a chance to network with one another after the final event is
over. We will provide shuttles to transport guests back to the hotel. Shuttles will leave
at 8:30 and 9:00.

**This is a tentative schedule and subject to change**

2017 IBMC 5

Computer History Museum
First Floor





Revolution exhibit
Non-event space


Computer History Museum
Second Floor








room CA REP



Non-event space

2017 IBMC 7

Ash Maurya
Keynote Speaker

Ash Maurya is the author of two bestselling books “Run-
ning Lean” and “Scaling Lean”, and is also the creator
of the highly popular one-page business modeling tool
“Lean Canvas”.

Ash is praised for offering some of the best and most
practical advice for entrepreneurs and intrapreneurs all
over the world. Driven by the search for better and faster
ways for building successful products, Ash has developed
a systematic methodology for raising the odds of success
built upon Lean Startup, Customer Development, and
Bootstrapping techniques.

Ash is also a leading business blogger and his posts and
advice have been featured in Inc. Magazine, Forbes, and
Fortune. He regularly hosts sold out workshops around
the world and serves as a mentor to several accelerators
including TechStars, MaRS, Capital Factory, and guest lec-
turers at several universities including MIT, Harvard, and
UT Austin. Ash serves on the advisory board of a number
of startups, and has consulted to new and established

Ash lives in Austin, TX.


Marguerite Gong Hancock
Keynote Speaker

Marguerite Gong Hancock is the founding executive director of the Computer History Museum’s Exponen-
tial Center, which captures the legacy—and advances the future—of entrepreneurship and innovation in
Silicon Valley and around the world. The center explores the people, companies, and communities that are
transforming the human experience through technology innovation, economic value creation and social
impact. Marguerite leads the strategy and execution of the Exponential Center’s integrated initiatives,
including collection and exhibits, research and insights, education, events, and thought leadership.

Marguerite is an expert on innovation and entrepreneurship in Silicon Valley and high-tech regions around
the world, with two decades of experience at Stanford University leading international and interdisciplinary
research and education programs. At the Stanford Graduate School of Business and Asia Pacific Research
Center, she co-founded and directed the Stanford Program on Regions of Innovation and Entrepreneurship
(SPRIE) and China 2.0, led a team of international research scholars, mentored students, co-directed exec-
utive education programs, and convened thought leaders for conferences in Silicon Valley and China.

Marguerite has taught university students, advised senior policymakers, and briefed business executives
from more than 25 countries. She has advised and led entrepreneurship hackathons, including in a plane
to London and on a train in Taiwan. She has been interviewed on Bloomberg and cited by The New York
Times, Forbes, San Jose Mercury News, and others. Marguerite is co-editor of three books published at
Stanford: The Silicon Valley Edge (2000); Making IT: The Rise of Asia in High Tech (2006); and Greater
China’s Quest for Innovation (2008).

Marguerite holds a BA from Brigham Young University and an MA from Harvard University.

2017 IBMC 9

Scott R Petersen
Breakout Session

Scott is the Executive Director of the Rollins Center for Entrepreneur-
ship & Technology at BYU, a program which he ran as the Managing
Director between 2010-2015. He is also the Founder and Chairman
of Omadi, Inc., a venture backed SaaS mobile CRM platform for
workforce management, serving the towing/transportation markets.
He served as Founder and CEO of Omadi from May 2013-April 2016.
While at BYU the Rollins Center was ranked in the top 5 of all universi-
ty entrepreneurship programs each of those years. Scott is a long time
entrepreneur having co-founded or partnered in building 7 companies
(harvesting 4), including several current ventures. Additionally, he
serves on a number of business and private foundation boards. Scott
has also published two books on the early Christian era.

Mike Hendron
Breakout Session

Mike is an associate teaching professor of entrepreneurship at Brigham Young
University. He also currently serves as the director of BYU’s perennial top 10
undergraduate entrepreneurship program. Mike teaches at the MBA and under-
graduate levels and researches in areas related to innovation, entrepreneurship,
growth strategy, strategy execution, and strategic decision-making. His academ-
ic expertise is built upon a foundation of industry experience including work in
organizations ranging from start-ups to global diversified firms to non-profits, at all
levels of management and across functional areas. In addition to operating roles in
firms, Mike has extensive strategy and management consulting experience, including running his own con-
sulting practice. His business roots go back to working in a family retail business and his hobbies include
software development and programming (25+ years of experience) and flying sailplanes.



1st $30,000 4th $6,000 7th- $2,000
2nd $20,000 5th $5,000 40th
3rd $10,000 6th $4,000

IBMC Champions
Every year, the winner of the International Business Model Competition takes home the IBMC traveling
trophy. This year, the trophy comes to the competition via the University of Iowa, home of last year’s winner
SwineTech. The 2017 competition is a new year and a new champion will be crowned. Bring your best to
the IBMC and you may take home more than just prize money.

2016 SwineTech Mathew Rooda, Abraham Espinoza,
University of Iowa David Hensley

2015 Kaitek Labs Emilia Diaz, Cristobal Aller
Pontifical Catholic University of Chile

2014 Veritas Medical Nate Rhodes, Martin de la Presa,
University of Utah Mitch Barneck

2013 Owlet Baby Monitors Kurt Workman, Jordan Monroe,
Brigham Young University Jacob Colvin, Tanor Hodges,
Zach Bomsta, Adam Rogers

2012 XoomPark Ken Frei
Brigham Young University

2017 IBMC 11

Competing Teams

ABAL Therapeutics Instapath
AgSpy Kaleyedos
Apex Landmine Boys
Axem Neurotechnology LIKS
Bonzeeball Medcare
Breathe Easy Mat Miguri Corp.
Burbank’s Mobile Barber Shop NATSIMA Nutraceuticals
Cleanopy Inc Okular Technologies
CMDX Biopsy Oliber
COASS Olride Kreasi Digital
Collegiate Tutoring, LLC Orindi Ventures
Curiato Inc. Prestige Gift
Edu Techno Prndl
Fastibular Rubi
General Biotechnologies ScanFactor
GenesisWAY SpurDeal
Gulpzilla Upright Kids
HelpUsGreen Vacus Tech
Hiki Foods


ABAL Therapeutics
University of Iowa

ABAL Therapeutics creates software therapies for children with autism. ABA therapy, the gold
standard in interventional autism therapy, is made inaccessible to many families because of cost
and time commitment. The average lifetime cost of care for autism is $3.2 million, a figure we
cut by up to 75%. Demand for ABA therapy is so much larger than the supply that some ABA
clinics report waitlists longer than a year. In Iowa, only ABAL Therapeutics seeks to reduce the
burden of providing ABA therapy to children with autism by automating the repetitive and time
consuming aspects of ABA therapy. With our product, therapy will no longer require upwards of
forty hours of one-on-one therapy a week and upwards of $100K/year and will allow ABA clinics
to increase their patient:therapist ratios beyond 1:1 or 2:1. Our goal is to provide every child with
autism access to the best care available.

University of Wisconsin River Falls

Many farmers struggle with over application of pesticides on their fields,. The current technology’s
accuracy rate is low and the process is very time consuming for the farmer. AgSpy is a precision
agriculture company that uses image processing in order to identify problems within a crop field.
It then returns this information to the farmer to use as a precision application of a pesticide.

John Brown University

Have you ever wanted to hike far-to-reach places like Machu Picchu in Peru or the Milford Track
in New Zealand? Do you desire to experience more of the world you live in? Apex is a national
fitness tour much like Tough Mudder or Color Run. We travel to cities all across the nation and
hold group fitness classes led by expert trainers. We hold these classes in portable domes ca-
pable of creating stunning, virtual environments. Our workouts are designed to target the same
muscle groups one would use on actual feats around the world. Apex is where your bucket list
and workout goals collide.

2017 IBMC 13

Axem Neurotechnology
Dalhousie University

Axem Neurotechnology is a wearable technology company building a set of ‘smart headphones’
to improve athlete’s mental training. The mental aspects of athletics are widely thought to be a
crucial component of elite performance. Yet while the quantification of the physical aspects of
sports is exponentially increasing, at present there is still no evidence-based way to quantify the
mental side of performance. By measuring brain activity and other nervous system biometrics, the
Axem headset allows athletes to improve their visualization abilities and ability to perform better
under pressure, through a combination of tracking and neurofeedback. Several professional and
Olympic teams have agreed to prototype the Axem headset and collaborate on research; we are
currently working on engineering and will begin testing this summer, with a paid beta with these
early adopters planned for Q2 2018.

Bonzeeball B
University of Washington TM

Bonzeeball is a distinct and completely new outdoor sports game that is active, fast-paced, and
most of all, highly entertaining. Played 1v1 or 2v2, with paddles or with just your hands, Bon-
zeeball is a sport that consists of many different proprietary components, including a table, a
patent-pending goal design, and a ball, that are all designed around the main vision of being the
next great sport in the world that is user-friendly, portable, and convenient for people to play in
many different settings. Bonzeeball is much more than a transactional consumer product com-
pany; we are a consumer experience company. Our mission as the next up and coming sport is
to be the platform that connects people to a special community that forges lifelong connections
centered around the great sport of Bonzeeball.

Breathe Easy Mat
Brigham Young University

The Breathe Easy Mat provides cordless, strangle-free targeted oxygen delivery to infants on
night-time home oxygen therapy. Typical night-time oxygen treatments involve a cannula (tube),
which is taped to the baby’s face and provides a steady flow of oxygen. Some parents are waking
up 4+ times every night to deal with issues like hoses getting tangled around the infant. When
doctors offer an alternative, they send parents to hardware stores to build their own oxygen
tents, which are inconsistent and use 10 times as much oxygen. The Breathe Easy Mat, a thin
cordless pad, solves this problem by delivering oxygen directly to the baby through a low-cost
proprietary smart valve network. It determines where the baby’s head is and releases oxygen
from surrounding valves to form a cloud that travels with the baby, resulting in a 50% reduction
of wasted oxygen and elimination of all tubes that could tangle.


Burbank’s Mobile Barber Shop
Quinnipiac University

Burbank’s Mobile Barber Shop makes getting a haircut a more convenient experience by bringing
the barber shop to its customers. Because we operate out of a 48’ expanding trailer we are able to
bring a retro-looking classic barber shop to our customers letting them get a high-quality haircut
without getting in their car. Needing a high-density population of customers, our first mobile shop
will serve university students at four central Connecticut universities along with nearby business
campuses and retirement communities. In the future, we plan to expand regionally and nationally
through both natural growth and franchising around the country.

Cleanopy Inc
University of Toronto

The World Health Organization stated that two billion children live where outdoor air pollution
exceeds the safe annual limit. Young children are especially vulnerable because their lungs
and immune system are still developing. In addition, many commercially available devices are
expensive and do not provide effective protection from air pollution. Cleanopy has developed a
method for reducing the cost and improving the effectiveness of air purification technology. The
technology is a portable device that can be added to cribs and strollers to offer continuous air
monitoring and purification. They form a network providing citizens, researchers, and medical
professionals with data on local levels of pollution. This allows medical professionals to identify
the people at risk of developing respiratory conditions and improve treatment regimen for people
with allergies, asthma, COPD and cystic fibrosis, who are more sensitive to effects of pollution.
Cleanopy project devices are expected to dramatically improve healthcare outcomes.

CMDX Biopsy
Tulane University

CMDX Biopsy was founded by a group of Tulane engineers in 2014, aiming to create a medical
device to improve the punch biopsy procedure, a common method of removing potentially
cancerous skin samples. Since then, they have designed an integrated biopsy punch device, a
single tool for removing skin samples. The provisionally patented device is an upgrade compared
to current tools because it increases efficiency and reduces costs and biohazard waste of the
more than 6.5 million punch biopsies performed per year in the United States, providing value
to clinics, personnel, and patients.

2017 IBMC 15

Gadjah Mada University

COASS is the first platform in Indonesia that connects dental students (Co-assistants) and patients
with the right case, right schedule, and help to get funding. The target demographic is dental
students and middle to low-class society. COASS has several benefits that are simple to help get
patients, affordable dental treatment, accelerate dental-assistants to become dentists, and increase
people’s awareness about dental health through the Dental Health Education feature. COASS
has partnered with several NGO’s, including Rumah Zakat, and has also partnered with hospitals,
clinics and community development to get patients. So, with a very low price we can help many
more people in Indonesia. Our mission is to save many lives through promoting dental health.

Collegiate Tutoring, LLC
University of Mississippi

Collegiate Tutoring, LLC hosts a successful online tutoring marketplace at the University of
Mississippi and is preparing for expansion to additional college campus markets. In two years,
we have delivered 1000+ tutoring sessions to 250+ Ole Miss students and also two Greek or-
ganizations. Our customers, who include students, their parents, and Greek Organizations, all
face significant consequences from poor academic performance. Collegiate Tutoring’s solution
provides academic relief with a focus on cultivating intimate customer relationships and making
quality student tutors accessible.

Curiato Inc.
University of Waterloo

Founded by students at the University of Waterloo, Curiato is dedicated to providing smart and
predictive healthcare platforms by leveraging Cloud, IoT, and Artificial Intelligence. Currently, the
team is developing Ceylon Systems, a combination of a smart mattress and patient management
interface that predicts and automates the prevention of pressure injuries, while simultaneously
improving administration workflow, lowering treatment cost and improving the quality of life.”


Edu Techno
International Islamic University Malaysia

Game addiction is one of the most prominent problems among teenagers especially in developing
countries. This addiction results in massive time wastage and unproductive behavior. However, it
is important to accept that in this time and age, video games are actually a large part of our life.
Edu Techno provides a video game that eliminates time wasting and has become the pioneer in
helping consumers interact more positively and productively with video games.

University of São Paulo

Last year 8 million Brazilians enrolled in ENEM, an exam very similar to the SAT. Of a sample of 76
students, 68% reported that in timed tests that the pressure to finish on time negatively affected
their score as much or even more than a limited understanding of the content. Currently, to solve
this problem, students are paying high fees for private coaches or attempting to study on their
own. Fastibular is a solution that combines low price and efficiency. We offer an online platform
that, through diagnosis and training, generates personalized feedback, providing tools for stu-
dents to better track and manage their exam time. In addition, we provide graphs with the time
spent per question, per discipline and indexes of achievement. Students can access Fastibular
through their device paying only a few dollars each month. Fastibular currently has an platform
with a sample SAT test for students to practice.

General Biotechnologies
Harvard University

General Biotechnologies identifies and develops biological innovation. Our lead candidate -
Nivien - is a novel therapy for treatment-resistant cancers. We are raising capital to fund our
ongoing preclinical trials for Investigational New Drug (IND) status in pancreatic cancer, which
currently has an average survival of just 8.5 months. We will then pursue IND status in additional
treatment-resistant indications and sell Nivien as a clinic-ready program to a biopharma company
with the resources and expertise to get Nivien to patients.

2017 IBMC 17

Northern Caribbean University

GenesisWAY is a company that makes healthy living a reality by providing ways to enhance the
quality of life for all. We began our mission by creating a healthier alternative to butter and an app
geared towards preventing cardiovascular disease by effectively monitoring major risk factors,
so appropriate action can be taken in a timely matter.

San Diego State University

Genius is a neurotechnology company that creates wearable sensors that allow people with
severe physical disabilities to control computers using just their mind. There are twenty million
Americans with severe physical disabilities in the United States. Less than 10% of them have
access to affordable and effective assistive technology. Those who do suffer financial obstacles
and cope with outdated and ineffective technology. This situation in the assistive technology
market has compounded the poverty and lack of access to education afflicting individuals with
disabilities. Genius has created a Brain-Computer Interface that allows disabled users to control
bluetooth enabled devices using our proprietary algorithm. Our device can be delivered more
cost effectively and provide improved results to millions of people.

Yangon Institute of Economics

Foodies in Myanmar struggle with finding information about what to eat, where to eat, how much
it will cost and if any discounts are available. Gulpzilla is a platform that connects consumers
looking for information about great food choices with the restaurants that are a perfect fit for
them. We are Gulpzilla, an interactive food platform.


Help Us Green
Symbiosis Institute of Management

Showering flowers is a religious ritual in India. Flowers are a symbol of devotion and reverence
and it is believed that flowers should be discarded into water bodies to respect their sanctity.
But nobody thinks of the aftermath? Sadly, these sacred flowers rot in rivers, killing fishes and
creating havoc in the fragile ecosphere of the waterbody and cause enormous pollutions. The
pesticides and chemical fertilizers used to grow flowers mixes with river water making it highly
toxic. Help Us Green is a social enterprise that preserves the Ganges by flowercycling the waste
from the places of worship and converting them into patented lifestyle products with the help of
manual scavengers and rural women

Hiki Foods
University of the Pacific

In the year 2050, the Earth’s population will hit 9 billion people. Our daily consumption creates
increased pollution and waste. Essentials for life - air, land, and water will become more toxic. So
what do we need? We proved that athletes and people who care about a healthy lifestyle and
their ecological impact need a natural source of protein. Building on this need, insects are our
best bet. Hiki Foods is offering cricket flour as a highly-nutritious complement for daily meals.
We have designed an efficient and responsible process for breeding crickets, which is a scal-
able opportunity for local micro businesses. Our mission is to build a network of local producers
in Peru and to offer the best-quality insect-based products, as pioneers in South America. Hiki
Foods is reinventing what a healthy lifestyle means, and redefining what a sustainable future for
the planet looks like.

Tulane University

Every year, 5 million biopsy procedures are performed to diagnose cancer in the United States.
Of those 5 million patients, 1 million need repeat procedures due to inadequate biopsy quality.
Repeat procedures can delay life-saving treatments for over 2 months. Instapath ensures biopsy
quality, thereby reducing repeat biopsies by half. Current methods capture less than 1% of a total
biopsy. Instapath ensures the quality of biopsies by providing an exact picture of a whole biopsy at
subcellular resolution within seconds of removal. By reducing procedure time, Instapath doubles
throughput for the hospitals.

2017 IBMC 19

Johns Hopkins University

Retinopathy of prematurity (ROP) is a retinal disease that affects 20-70% of premature infants. If
left untreated, it can cause visual impairment and blindness. Today, ROP accounts for up to 60% of
childhood blindness; it is the leading cause of childhood blindness worldwide. Due to the scarcity
of pediatric ophthalmologists, however, less than 30% of neonatal intensive care units (NICUs)
worldwide have the ability to perform the recommended screening for ROP. At Kaleyedos, we
aim to reduce the global incidence of ROP-induced visual impairment by providing a telemedicine
solution to ROP screening: the Kaleyedos Imaging Device (KID). The KID seamlessly integrates
novel imaging hardware, a cloud-based telemedicine workflow, and an image processing suite
to overcome the two main barriers to ROP screening: personnel availability and equipment cost.

Landmine Boys
University of Waterloo

Landmine Boys aims to build a sustainable business that focuses on the eradication of landmines.
Our main goal was to ensure the safety of human operators and so we are tackling the demining
tasks which place operators in direct contact with the landmines: excavation and neutralization.
We are designing machines to perform these two tasks in order to significantly reduce direct
interaction with the landmine.

Monterrey Institute of Technology

Our mission is to empower and inspire children for the future. We help them become entrepreneurs
of solutions to problems in their community and help them develop skills in teamwork, leadership,
creativity, and innovation. LIKS is an online educational community that teaches parents, teachers,
and entrepreneurs how to teach project based learning and STEM education.


Waseda Business School

MedCare is the replacement of brick and mortar clinics, providing hassle-free health for every-
one: minimizing stress, unnecessary medical visits, and preventable lifestyle diseases. Medcare
is redefining medical services and helping people stay healthy through data-driven preventative
care and health monitoring. We are on a mission to improve healthcare by empowering patients
and medical professionals to reduce preventable lifestyle diseases. Our services minimize the
cases of preventable chronic diseases through remote, hassle-free healthcare access for patients
and by making patient lifestyle data available in real-time to medical professionals. Founded in
2016, Medcare is a private company aiming to launch its beta product in May 2017. We are the
winner of the Japan Business Model Competition (JBMC) 2017.

Miguri Corp.
National University of San Marcos

In emerging economies there is a large gap in basic education about technology because con-
sumers in these markets cannot afford the high costs of implementation. However, the necessity
of being educated with technological tools is increasing more and more in the beginning of the
fourth industrial revolution. Miguri develops educative technology ourselves and has a wide
community of schools as key partners to offer the most affordable technological courses. We
began with robotics in Peru and it is our goal to implement virtual reality and 3D printing courses
in the short term; and hopefully start our expansion to other emerging economies in the long term.

NATSIMA Nutraceuticals
Northern Caribbean University

NATSIMA Nutraceuticals focuses on the pain that individuals feel in relation to the simple act of
breathing. This company is new and is aimed at using plants, for the treatment of sinusitis and,
to a greater extent, the attacks of asthma on asthmatic patients. In addition, NATSIMA is aimed
at treating cold and flu symptoms and general respiratory problems that are caused by allergens
and pathogens that are present within our environment. Our aim is to be more effective than the
current sinus medications that are currently on the market.

2017 IBMC 21

Okular Technologies
Brigham Young University

Okular Technologies is a SaaS company that provides shopper analytics for large retailers by
analyzing video footage from a store’s existing security cameras. Our service is needed because
sales at brick-and-mortar stores continue to slide due to increasing gains from online competitors.
One critical advantage that online retailers hold is easy access to shopper analytics (e.g. Google
Analytics) that help managers make informed sales decisions. Physical retailers, however, have
no easy access to these analytics and are in dire need for a solution. Okular levels the playing
field by using existing security cameras in brick-and-mortar stores to provide insight-rich shopper
analytics. Using this technology, retail managers can improve sales and reduce costs by seeing
critical metrics such as impressions, conversion rates, check-out que times, and much more.
Several major retailers are interested in Okular’s services, and we are looking to finish current
store testing soon.

Pontifical Catholic University of Chile

Oliber is an orthosis for people with stump hands, arthritis or osteoarthritis, providing users au-
tonomy during daily activities. There are several diseases or causes that lead to partial or total
atrophy of the hands, including, hand in cocoon (EB), arthritis, osteoarthritis, burns or amputations
of the hands. Individuals suffering from these symptoms are affected in performing daily activities
such as eating, writing, brushing teeth or holding a phone. Oliber provides autonomy during daily
activities with technology using magnets and metal plates that enable the user to attach to any
object that the user wishes to use. Several top advantages to using Oliber include ease of use,
comfort during use and customization of color.

Olride Kreasi Digital
Brawijaya University

The vision of Olride is to become people’s ride perfect match. Olride is a platform that connects
workshops and riders by utilizing a digital application to help riders to maintain their vehicles. As
a nation with high mobilization, condition and performance of our vehicles is incredibly important.
Olride would like to educate riders that their vehicles are partners that could potentially save
their lives in the event of an accident. Olride helps vehicle owners love their vehicles and treat
them like they’re supposed to.


Orindi Ventures
Grand Valley State University

We have created a passive mask that allows you to breathe warm air and reduce energy expendi-
ture in the coldest of environments. Our mask easily directs one’s breath through our proprietary
and antibacterial composite which captures the heat and humidity when you breathe out and
puts it back into your breath when you breathe back in. This mask is able to reduce the symp-
toms of the asthmatic cough for individuals in cold environments. The technology that we have
developed and implemented is patent pending. We are currently focusing on the cold storage
market as a worker wearing our mask can perform 10% more efficiently and has reduced fatigue
while working in a -20 environment. We have created 26 mask design iterations and run through
5 different silicone molds to perfect our product. We are excited to pursue the commercialization
of the Orindi Mask.

Prestige Gift
CamEd Business School

Prestige is a gift consulting business created to fulfill the needs consumers have for prestigious
gifts and romantic experiences for the emerging middle class and high-net worth couples and
corporations in Cambodia. We provide: premium customized gift boxes, romantic meal preparation,
experience packages for couples and customized gift sets for large corporations.

Michigan State University

Prndl is a software that simplifies parking. It has two core functions: First, it allows anyone to
rent their parking spots out whenever they would otherwise go unused. Additionally, Prndl lets
anyone find and reserve parking in advance. Prndl reduces the stress of parking, while offering
users an opportunity to make additional income.

2017 IBMC 23

Brigham Young University

Rubi is the next step in wearable technology. Our engineers have created a thin, nano-metric
sensor that is worn over a pregnant woman’s belly that is capable of passively tracking kick count,
heart rate, and fetal position. To put it simply, Rubi is the world’s first comprehensive pregnancy
tracker. It is worn like a maternity band, and the sensors are sleekly hidden behind cozy, neutral
fabric so that mom can wear her Rubi at any time of the day. Our product is designed to report
activity, but as our technology improves, it will hep doctors around the world bring down the
nearly 3 million stillbirths happening annually. The best part is, as soon as you are done with
your Rubi, you get to send it back to us. We will then refurbish it and give the band to woman in
a developing country where high risk pregnancy is the worst.

Brigham Young University

ScanFactor began in November of 2016 and is a business-to-business software company designed
to solve recruiting pains. Currently, millions of dollars are being wasted each year at university
career fairs because of the wildly inefficient way that information is shared at these events. We
use QR code technology that allows students and recruiters to share information with a simple
scan. Instantly, recruiters receive the student’s picture, name, email, major, GPA, resume, LinkedIn
profile, graduation date, and more in a digital dashboard. Students have a similar dashboard that
displays the recruiters’ information that they met with during the fair. Because these interactions
are digital, we deliver data that - for the first time ever - gives universities insight into how their
career fairs are performing.

University of Waterloo

SpurDeal is a mobile marketplace that instantly connects local restaurants with consumers in
real-time. SpurDeal’s model benefits both the restaurant and the customer. Restaurants get
complete control and flexibility about what deal they post, how many deals they post and when
they post, including off-peak hours, all in less than five minutes. Customers get geo-targeted
deals that they need to quickly buy and redeem, otherwise the deal voucher expires. This gives
customers a chance to try great, new restaurants at discounted prices and provides restaurants
with the ability to monetize its resources during off-peak hours.


Northern Caribbean University

TSOTARE Agricultural Innovators develop alternative methods and technology to substitute for the
current unsustainable methods of production and assists in the preservation of the environment in
Jamaica and the entire world. We specialize in improving the quality of life for all individuals that
are willing to change from their mindset and practices for a better way forward for humanity overall.

Upright Kids
University of Wisconsin Oshkosh

Sitting for long periods of time increases your risk for heart disease, diabetes, cancer, back and
neck pain, and other orthopedic problems. Standing desks have become very popular for adults,
however, there’s still no widespread solution for children, especially in the K-8 market because
of the high cost to implement across schools and communities. Our standing desk is made of a
durable and cost effective corrugated cardboard that can be easily set up on top of the student’s
desk and folded to be stored away. You can customize the height for each child, and it is affordable
enough to be implemented into entire schools or to be purchased by parents.

Vacus Tech
Maharashtra Institute of Technology - Pune

“GPS is like a sponge, it’s full of holes.” This statement from one of our customers has led our
team on a journey to revolutionize indoor GPS. Many current GPS offerings in the market fail to
perform to expectations when users are indoors. Individuals working in healthcare, transportation
and industrial manufacturing have experienced this pain the strongest and are our target customer
segment. Using sub-meter accuracy, Vacus Tech is currently working to make indoor GPS no
longer a pain. We have filed patents, have several full time employees and are revenue positive.

2017 IBMC 25

2017 Judging Criteria
Each round of the International Business Model Competition is judged using the following questions:

• Did the team use a canvas to identify and track hypotheses?
• Did the team clearly state their hypotheses?
• Did the team identify the most crucial hypotheses to test first (the ones that could kill their business)?

• Did the team design low cost, rapid, but reliable tests of these hypotheses?
• Did the team conduct the tests in a reliable manner?

Number of tests - should be adjusted for industry, product type (web vs physical
product), and business type (B2B vs B2C)

Quality of tests - interviews are high quality, surveys & focus groups are much lower
quality (you don’t know which questions to ask) unless interviews have been con-
ducted first

• If appropriate, has the team developed a prototype or minimum viable product (MVP)? Does
the team understand the hypotheses they are testing with a prototype or MVP? Is the proto-
type or MVP appropriate to answer those hypotheses?

(We want to reward the testing of hypotheses using prototypes verses the building of
products using untested hypotheses.)

• Did the team clearly state their insights and learning, how those validated or invalidated a hypothesis,
and if that informed any pivots (changes)?
• If changes were made, was the pivot the team made supported by evidence or did they fail to pivot
when the evidence clearly stated it?
• Does the team have significant evidence that the solution is validated (i.e., letters of intent, purchase
contracts, sales, partners, etc.)?

• Is the team solving a significant problem (defined in terms of money or impact)?

Because web-based businesses are easier to test, these companies can often pivot faster. Judg-
es are asked to not penalize physical product companies or health-related businesses because
they have not pivoted as much or made as many iterations as web-based businesses.


2017 Final Judges

Seth Beal
Seth is SVP, Incubation & Strategic Partnerships for Walmart US eCommerce,
which includes his role as Principal for Store No 8. Since joining Walmart in 2013,
Seth has served in a number of roles with a deep focus on the digital shopping
experience including SVP, Global Marketplace and Digital Store Operations (DSO)
and Chief Ethics & Compliance Officer for Global eCommerce.

Prior to Walmart, Seth was President and CEO of Thrift Books LLC, the nation’s
leading online seller of used books. Seth started his career at Kirkland & Ellis LLP.

Seth is a diehard Seattle sports fan, which means you can find him cheering on his
teams in both good times and bad. He loves skiing, traveling and is an avid reader. He attended Brigham Young Univer-
sity and the J. Reuben Clark Law School where he graduated summa cum laude.

David Bland
David is the Founder & CEO of PRECOIL, an innovation consulting agency in the
San Francisco Bay Area. He is an early adopter of Lean Startup, Design Thinking
and Agile. He advises corporate innovation labs and Silicon Valley accelerators on
how to validate business ideas rapidly in the market.

Some of David’s more notable endeavors include:
- Pioneering GE FastWorks with Eric Ries
- Advising emerging product teams at Adobe
- Mentoring Toyota on Connected Car services

Prior to PRECOIL, David was a Principal at both Neo and BigVisible, where he pioneered Lean Startup services and
innovation consulting. Before his transition into consulting, David spent most of his career at early stage startups in the
Washington DC Metro Area.

Dan Olsen
Dan Olsen is a Lean Startup and product management consultant, speaker, and
author. At Olsen Solutions, he works with CEOs and product leaders to build great
products and strong product teams, often as interim VP of Product. His clients
include Facebook, Box, UserTesting, and One Medical Group.

Dan is the author of the bestseller The Lean Product Playbook. Prior to consulting,
Dan worked at Intuit, where he led the Quicken product team. He also led product
management at Friendster. Dan was also cofounder and CEO of TechCrunch
award winner YourVersion, a personalized news startup.

Dan earned engineering degrees from Northwestern and Virginia Tech and an MBA from Stanford. Dan is also founder
of the Lean Product & Lean UX Silicon Valley Meetup, the largest product-focused meetup in the San Francisco Bay
Area with over 5,500 members.

2017 IBMC 27

SwineTech SwineTech creates solutions to reduce the amount of piglets that die on farrowing
facilities. SwineTech’s mission is to help farmers increase production in order to
2016 Champion play their part in helping feed the world. SwineTech’s first product, Echo, reduces
the incidence of piglet mortality due to crushing by the mother sow by analyzing
the crates temperature and piglets’ squeals in a particular crate. Echo detects
when a piglet is being laid on and then communicates to a belt-like structure on
the sow which alerts the sow to stand up. Since the 2016 IBMC SwineTech has
added 5 more employees, raised $1.3 million, and are running betas
with some of the World’s largest pork producers. They have even
had 5 companies tell them that if they provide a detailed year long
set of data that validates the technology then they will make an offer
to purchase the company. When asked for advice to give to IBMC
participants, SwineTech founders said, “Ask the judges what everyone
else did that they thought was better than you. This makes it easier for
the judges to give you quality advice on how to improve your pitch.
Finally, Be open minded and truly make those who are advising you
feel valued.”

Whistic Whistic is a cloud-based platform that uses a unique approach to address the
challenges of third-party risk management. Their diligence platform provides
2016 Finalist workflow solutions that automate the vendor risk management process and
saves IT personnel hours each week communicating with vendors and evaluat-
ing assessment results. In addition, Whistic’s crowd- sourced algorithm provides
vendor risk scoring based on the insights of thousands of industry professionals.
Coupled with machine learning, the Whistic platform and risk score improve over
time to give organizations increasingly valuable information and guidance. Some
key milestones they have achieved since last year’s competition are that they
launched their product, signed their first 20 customers, and have reached over
$115k in revenue. When asked for advice, they said “IBMC helped me
learn that validation is not just about product. It’s about every aspect
of your business - pricing, business model, team, costs, partners, ect.
Don’t be afraid to step away from your computer and get out of the
building. You’ll learn a lot more and move a lot faster if your connec-
tion with people and learning as fast as you can.”


ExVivo Labs ExVivo Labs is developing next generation medical diagnostic tools. Their non-in-
vasive technologies make testing procedures safe, simple and certain. Their first
2016 Semi-Finalist product line will be a series of skin patches that allow for at-home allergy testing
without the need for any allergic reaction. They continue to use quick iteration
cycles to validate or reject hypotheses they have about their business, and to con-
stantly speak with the people who will be affected by our technology. Since IBMC,
ExVivo Labs has participated in a business accelerator program, completed their
seed round of financing, and have grown their team to seven full time employees.
ExVivo Labs is heavily focused on product development and better understanding
their go-to-market strategy. Their next steps will be to conduct clinical studies,
then pursue both regulatory approval and reimbursement coverage
for initial sales. When asked for advice, ExVivo Labs founder said, “I
really challenge entrepreneurs to make sure they are truly addressing
a problem for their target customer rather than coming up with a cool
idea and trying to find a market for it.”

Borealis Wind Wind turbine blade icing is a problem that affects 65% of wind turbines world-
wide, because the best wind resources are in cold climates. Icing results in
2016 Semi-Finalist prolonged turbine downtime and potential damage to the turbine which leads
to revenue loss. Borealis Wind has designed a retrofit for wind turbines, that will
heat the blades, shedding the ice, reclaiming the lost revenue and allow for a
safe, controlled de-icing process. Since competing in the IBMC last year, Borealis
Wind installed the first test system of their wind turbine de-icing system in the
fall of 2016 and is preparing to install test systems with some of the largest wind
developers in North America in the coming months. Borealis Wind
has raised $150,000 in funding from competitions, grants, and public
funding. Their advice for the 2017 IBMC participants is “don’t take all
the advice you get - at the end of the day you know what you’re doing
better than anyone. Every problem has a solution - don’t give up!”

2017 IBMC 29

What Winning Teams Do
The purpose of the International Business Model Competition is to reward the process student
entrepreneurs follow to eliminate uncertainty in their businesses. We encourage smart entre-
preneurs that identify and test key business hypotheses, seek input from potential customers,
and make necessary changes based on what is learned. Remember, this is not a
business plan or venture pitch competition!

Tell us your story.
If you watch any past winner present, you will see that they start by connecting to the audience
through a compelling, but truthful story about their business. In your story, describe the pain you
uncovered and how you plan to solve it.

Use a Canvas.
Start with a blank canvas and step-by-step show your hypotheses , how you tested them, and
the results. Demonstrate visually which hypotheses were validated and which were not. Don’t
throw all of your information on the canvas at once, walk the judges through your validation in
digestible portions.

Describe the validation.
Each hypothesis you make has to be accompanied with a test or an activity that aims to prove or
disprove your hypotheses. Zoom in close on all of your tests and explain the hard work you did.
We want you to justify your decision-making and the course of your business with real data from
credible sources.

Highlight the lessons learned.
Each test has to lead to the lessons learned and future plan of action. Show what each test
taught you, what was validated, what wasn’t, and what hypotheses and tests you made next.

Explain your pivots.
Most of you had to pivot or change a portion of your business in response to customer feed-
back. We want you to justify your pivots with concrete data. Just saying that you made a pivot
is not enough. Realizing that your hypothesis is inaccurate is not a weakness, but evidence that
you learned something.

In conclusion, judges want to see multiple rounds of hypotheses and tests. One or two tests
is not enough to show that you thoroughly researched your business idea. It is not possible to
walk through the entire canvas in 10 minutes, so focus on a the hypotheses and tests that are
crucial to your business.

Around the World
2016-2017 IBMC Qualifier Competitions

Brigham Young University Alta Experiential Learning (Peru)
Harvard University Brawijaya University (ASEAN)
Michigan State University Dalhousie University (Canada)
Quinnipiac University Ideation Brasil
San Diego State University IIT Kharagpur (India)
Tulane University Jamaica National BMC
University of Iowa Jump Chile
University of Mississippi Mekong Challenge (Southeast Asia)
University of Wisconsin-Extension Monterrey Institute of Technology (Mexico)
Waseda University (Japan)

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